A classical objection to Keynesian sticky price models is that
A) it is easier for firms to change prices rather than change output.
B) it is cheaper for firms to change output rather than change prices.
C) sticky price models are internally inconsistent.
D) real shocks are more important than nominal shocks.
A
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Adam Smith argued that government's role in society would be to do absolutely nothing. True or False.
In 2009, the 20 percent of families with the lowest incomes paid an effective average federal tax rate (on all federal taxes) of about ____, whereas the 20 percent of families with the highest incomes paid an effective average tax rate of about ____
A. 5.5 percent; 50 percent B. 10.3 percent; 30.9 percent C. 8.4 percent; 27.5 percent D. 1.0 percent; 23.2 percent
The theory that there is no way to "get rich quick" in securities due to a lack of predictable trends is
A. random walk theory. B. trading. C. market trend analysis. D. no-win theory.
Unanticipated inflation arbitrarily:
A. "Subsidizes" those who receive fixed money incomes B. "Taxes" those who receive fixed money incomes C. "Penalizes" those who borrow money D. "Benefits" those who save money